Creating a marketplace can be an exciting and rewarding venture, but it’s also complex. Whether you’re building a peer-to-peer rental platform, a B2B service exchange, or an e-commerce aggregator, the idea of launching a full-scale marketplace can feel overwhelming, especially when budget and time are limited.
That’s where the concept of a Minimum Viable Product (MVP) comes into play. A well-designed MVP allows you to test your concept with real users, gather valuable feedback, and iterate — all without spending months or tens of thousands of euros. Here’s how to do it efficiently.
Define the Core Problem You’re Solving
Before you even think about how to create a marketplace and features or technology, define the core value proposition of your marketplace. Ask yourself:
What problem am I solving?
Who are the users (both sides)?
Why would they come to my platform instead of existing solutions?
Keep your focus razor-sharp. A successful MVP does one thing well rather than trying to do everything. For example, if you’re building a marketplace for freelance chefs, don’t try to compete with Uber Eats from day one. Focus on matching chefs with clients — and nothing more.
Identify the Must-Have Features
Strip your marketplace down to its essentials. A basic marketplace MVP usually includes:
User registration/login (for both buyers and sellers)
Product or service listing creation
A search/browse functionality
Messaging or booking system
Basic payment processing
Admin dashboard (even minimal)
You don’t need filters, reviews, ratings, or complex user profiles at this stage. Focus on building the shortest path from problem to solution.
Choose the Right Tools and Tech Stack
You don’t need to build everything from scratch to create a functional marketplace MVP. The tools you choose should depend on your technical skills, timeline, and budget. If you’re not a developer, there are platforms that allow you to build fully working products with minimal technical knowledge. These tools are typically fast to use, cost-effective, and make iteration easy in the early stages. However, they may have limitations in terms of scalability and flexibility when your platform becomes more complex. On the other hand, if you require more customisation or plan to scale aggressively later, you might consider using more advanced development frameworks or even custom coding. In this case, it’s wise to rely on pre-existing components, open-source frameworks, or hire freelancers to accelerate the process and keep costs under control. The key is to balance speed, flexibility, and long-term vision while staying focused on building only what’s necessary to test your core concept.
Implement a Lean Supply Strategy
A marketplace has two sides: supply and demand. The cold start problem is real, so don’t build the product and then look for users. Instead, try to pre-onboard suppliers during the MVP phase.
Some strategies:
Reach out to potential suppliers directly via LinkedIn or cold email
Offer early access or zero commission deals to first vendors
Manually create listings for them if needed (with their permission)
Even if your MVP isn’t live yet, you can start validating and collecting supply, which makes your launch smoother.
Don’t Overbuild Payments
Payments are important, but you don’t need to go full Stripe Connect out of the gate.
Here are quick-win options:
Use PayPal or Stripe Checkout to start
Delay commissions (manually invoice or track) in early stages
Consider using third-party escrow tools if needed, like Mangopay or Lemonway (especially in EU)
Remember, your goal is validation, not full automation.
Fake the Backend (If You Have To)
In the early days, don’t hesitate to “fake it until you make it”.
Manually match users. Send confirmation emails yourself. Create listings via a Google Form and display them on a Webflow site. Airbnb’s founders famously uploaded listings themselves and handled bookings manually for months.
This approach is called the Wizard of Oz MVP, where users interact with a seemingly functional platform, but much of the process is done manually behind the scenes.
Focus on Feedback, Not Perfection
Once your MVP is live, the real work begins: collecting and analysing user feedback. Talk to your early adopters. Watch how they use the platform. Ask:
What was confusing?
What do they love?
What’s missing?
Would they recommend it?
Your MVP’s main goal is learning. Resist the urge to add every feature users suggest. Look for patterns and only prioritise what drives value.
Measure What Matters
Don’t just launch and hope for the best. Set clear KPIs such as:
Number of transactions
Time to first transaction
Retention rate
Conversion rates (signup → transaction)
Supplier activity level
Track these metrics with tools like Google Analytics, Mixpanel, or simple spreadsheets.
Iterate Quickly
Based on your data and feedback, refine your MVP. Maybe your booking flow needs improvement. Maybe users want video calls instead of chat. Maybe your niche is too broad and needs narrowing.
Iterate — but keep costs low. MVPs are about progress over polish.
Know When You’re Ready to Scale
Once your MVP proves that:
There’s consistent user activity
You’re getting repeat usage or growth
Users are willing to pay (or suppliers are willing to stay)
Then you can start investing in:
Better design
Custom development
Automation
Scaling marketing
But don’t rush. A good MVP saves you from burning money on the wrong assumptions.
Conclusion
You don’t need a massive team, deep pockets, or perfect code to launch a marketplace. With the right focus and tools, you can go from idea to MVP in a few weeks and start testing your assumptions right away.
The key? Start small. Launch fast. Learn constantly. And most of all, solve a real problem for real people.
